Formula not calculating correctly

  • Thread starter Thread starter Aggie G
  • Start date Start date
A

Aggie G

I have a formula that is simple and the answer is not correct.

I am trying to calculate the payment amount. Because the total overdrawn
amount is not always even, the final payment amount might be different by a
little bit. So here is the formulas that I have entered to get the answer.

Payment Amount: k16/k17
Final Payment Amount: k16 - (K18*(k17-1))

The example I am working with is total overdrawn amt is 535.29 and number of
payments is 6. When I use the calculator, the payments are 89.22 and the
final payment is 89.19. When I use the formula above the final payment is
89.22. The only way I get 89.19 (correct answer) is to type in 535.29-446.10.

What could be the problem?


Total Overdrawn Amount K16
Number of Payments K17
Payment Amount K18
Final Payment Amount K19
 
The issue is that your payment amount is calculating to 89.215 not 89.22 and
is only being displayed as 89.22.

If you change your payment formula to Round(k16/k17,2) you will get a pament
amout of exactly 89.22 and a final payment of 89.19
 
I have a formula that is simple and the answer is not correct.

I am trying to calculate the payment amount. Because the total overdrawn
amount is not always even, the final payment amount might be different by a
little bit. So here is the formulas that I have entered to get the answer.

Payment Amount: k16/k17
Final Payment Amount: k16 - (K18*(k17-1))

The example I am working with is total overdrawn amt is 535.29 and number of
payments is 6. When I use the calculator, the payments are 89.22 and the
final payment is 89.19. When I use the formula above the final payment is
89.22. The only way I get 89.19 (correct answer) is to type in 535.29-446.10.

What could be the problem?


Total Overdrawn Amount K16
Number of Payments K17
Payment Amount K18
Final Payment Amount K19
Click to expand...

Hmmm.

I made the following entries:

K16: 535.29
K17: 6
K18: 89.22
K19: = K16 - (K18*(K17-1))

K19 shows $89.19

Maybe you've made a typo someplace.
--ron
 
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